StradVision Raises $88M To Develop Accessible AI-Assisted Driving Tech
StradVision has raised $88 million to develop low-cost self-driving AI models in the aim of democratizing the industry.
Created on August 16|Last edited on August 16
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With continued advancement in computer vision AI, the futuristic idea of self-driving cars is getting closer and closer every day. Right now the bulk of that research and development is done at large companies that manufacture their own cars, keeping just about everything closed down.
Very happy to share that StradVision announced the close of $88m #SeriesC #fundraising inlcuding #zf and #aptiv With this round closed, StradVision now has $129m USD in cumulative funding from the seed round through Series C. #AIforAutomotivehttps://t.co/bdC3qLzhTA
— StradVision (@stradvision) August 11, 2022
StradVision wants to broaden the accessibility of autonomous vehicle development by introducing its own solution for computer vision and object detection on the road: SVNet. In the aim of democratizing the industry, StradVision's SVNet product line is built to run on low-end hardware while keeping results high, allowing for less expensive hardware investment and server overload risk.
SVNet External uses lean computational needs with small models, such as the 2.5 million parameter model running on an NVIDIA Jetson TX2, to ensure accessible hardware requirements. The SVNet Tools application also lets companies manage their models to optimize to their liking, and collect analytics for deployment.
Who's funding StradVision and where's the money going?
StradVision has announced the closing of a Series C funding round which accumulated to a $88 million in the end, bringing total funding since Seed rounds to around $129 million. This funding was led by ZF Group and Aptiv.
Currently working with markets in the US and select countries across Europe and Asia, they plan to use the funded money to continue their expansion globally and continue development on their SVNet product line and models.
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